Kuwait-based Equate Petrochemical Company is taking part in the ongoing 3rd Kuwait Industries Expo 2016 in Kuwait, aiming to promote cooperation among the country's industrial organisations.

The event, being held under the patronage of HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, kicked off today (October 9) and will conclude on October 11, at the Sheraton Hotel in Kuwait City.

Equate, through its sponsorship of the event for the third consecutive year, aspires to strengthen cooperation and coordination among Kuwait’s industrial organisations, as well as familiarise the public with the role and added-value of the Kuwaiti industrial sector, said a statement from the company.

Equate president and CEO Mohammad Husain, said: “We seek overall industrial collaboration and integration by all industry-related bodies in Kuwait, public and private.”

“Such a step would greatly contribute to the diversification of our national economy, especially that our company’s petrochemical products represent over 60 per cent of Kuwait’s export value from non-oil sources,” he said.

“In addition, our company has contributed to the growth of the local plastics industry by over 450 per cent and supported these local manufacturers to launch export operations to several countries,” he added.

Husain further said: “As a global industrial enterprise, we are the first Kuwaiti petrochemical company to establish an industrial investment in the US through a world-scale ethylene glycol (EG) plant with a capacity of 750,000 metric tonnes annually.”

“The plant is expected to be finalised during 2019. Currently, we are the world’s second largest producer of ethylene glycol (EG) with a 12 per cent market share,” he stated.

EG is used in a number of market applications, including polyester fibres, polyethylene terephthalate (PET) bottles and packaging, antifreeze and coolants, paints, resins, deicing fluids, heat transfer fluids and construction materials, said a statement.

Husain added: “Through this expo, we can highlight the vitality of the Kuwaiti petrochemical sector in the development and progress of our national economy by diversifying income sources, devising additional added-value, creating job opportunities especially for nationals, as well as contributing to overall sustainability. This can be done through the integration of oil, gas and petrochemical sectors.”

Husain expressed appreciation and gratitude to Kuwait Industries Union (KIU) along with all participants in the expo for their role in organizing and enriching this event.

During the opening ceremony, Equate’s exhibition stand hosted the representative of HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, HE the Minister of Social Affairs and Labour and Minister of State for Development and Planning Affairs Hind Al-Sabeeh.

Equate’s stand has attracted numerous attendees who are interested in receiving more information about the company’s activities and overall contributions, it stated. – TradeArabia News Service